A finite-time distributed algorithm for economic dispatch problem

This paper investigates the economic dispatch problem of power systems and proposes a new solution by applying the consensus theory of multi-agent systems. The new algorithm can solve the economic dispatch problem in finite time in a distributed way, and ensure that the system cost is minimum and the supply-demand of active power is balanced. A test power system consisting of 4 generation units is built in MATLAB to illustrate our design approach and the results validate our proposed control strategy.